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Episode Details
January 7, 2026
0 seconds
In this raw and revelatory episode of the Never in Reverse Podcast, Jeremy Axel sits down with Bill Fairman, a battle-tested co-founder from the financial services trenches. This isn’t a theory, it’s a testimony. Bill pulls back the curtain on the exhilarating highs and devastating lows of business partnerships, sharing the hard-won wisdom that can only come from walking through fire.
You’ll hear the story of starting from scratch with little more than a dream, the unique complexities of partnering with family, and the non-negotiable role of radical transparency. Then, Bill takes us into the heart of the storm: navigating a catastrophic $68 million loss caused by partner misconduct. This is a masterclass in crisis leadership and personal resilience.
For detailed show notes, navigate using the timestamps below:
(00:00:00)
(00:00:54) Personal Background and Hobbies
Bill shares about his hobbies, love for fishing, and what motivates him in life and business.
(00:03:06) Why This Podcast?
Bill explains what attracted him to the podcast and the meaning behind "Never in Reverse."
(00:04:24) Weathering the Early Storms
Discussion on starting the business with limited resources, community support, and the challenges of the early days.
(00:05:10) Bootstrapping and Growth
Bill details how the business was bootstrapped, the role of family, and the transition from brokering loans to starting a fund.
(00:09:57) Family Dynamics in Business
Exploring the benefits and challenges of working with family, maintaining open communication, and separating family from business.
(00:11:42) Maintaining Trust and Communication
Importance of daily and weekly huddles, honest dialogue, and preventing resentment in partnerships.
(00:12:57) Handling Personal and Business Challenges
Navigating personal life events, ego, and maintaining clear communication as the business evolves.
(00:14:36) Transparency with Staff and Investors
Balancing openness with staff and investors during tough times, and the importance of timely communication.
(00:15:59) The $6.8 Million Loss Crisis
Bill recounts bringing in a third partner, discovering accounting discrepancies, and the resulting major financial loss and litigation.
(00:18:36) Leadership During Crisis
How to lead a team and maintain culture during chaos, and the personal toll of business crises.
(00:20:20) The Value of Mastermind Groups
How mastermind groups provided support, advice, and a sounding board during difficult times.
(00:22:21) Radical Transparency with Investors
Describing the process of communicating the crisis to investors, holding town halls, and maintaining trust.
(00:23:13) Lessons from Chaos and Growth
How moments of chaos build strength, structure, and authenticity in leadership and business.
(00:24:12) The Importance of Asking for Help
Encouragement to utilize support networks and not hide problems out of embarrassment.
(00:25:17) Advice on Co-Founder Relationships
Bill’s perspective on partnerships, the importance of planning for exits, and treating partnerships like potential divorces.
(00:26:34) Structuring Partnerships for the Future
Advice on setting up agreements and processes to handle life changes and business evolution.
(00:27:13) Final Advice for Future Founders
Bill’s key takeaways: don’t get discouraged, expect ups and downs, and be open and honest with all stakeholders.
(00:29:01) The Meaning of "Never in Reverse."
Bill explains his interpretation: facing consequences, making tough calls, and learning from failure.
(00:29:32) Closing Remarks
Host wraps up with final thoughts on partnership resilience, learning from failure, and thanks to Bill.
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FOLLOW & LEARN MORE ABOUT Bill Fairman:
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► Instagram: https://www.instagram.com/bill.fairman.5/?hl=e
► Facebook: https://www.facebook.com/bill.fairman.5
► LinkedIn: https://www.linkedin.com/in/bfairmancarolinahardmoney/
► website: https://carolina.fund/accredited-investor
==========
FOLLOW US
==========
► YouTube: https://www.youtube.com/@NeverInReverse
► Spotify: https://open.spotify.com/show/39zLUYtDfBDVkbeLAVuTcI
► Apple Podcasts: https://podcasts.apple.com/us/podcast/never-in-reverse/id1756324120
► Amazon Music https://music.amazon.com/podcasts/01bdb6c8-fbc3-47c8-b47f-c1f640360356/never-in-reverse.
=================
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=================
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► Website: https://neverinreverse.com/
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Featured Quotes
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Episode Transcript And Overview
Timeline Notes
Introduction and Guest Welcome
ersonal Background and Hobbies Bill shares about his hobbies, love for fishing, and what motivates him in life and business.
Why This Podcast? Bill explains what attracted him to the podcast and the meaning behind "Never in Reverse."
Weathering the Early Storms Discussion on starting the business with limited resources, community support, and the challenges of the early days.
Bootstrapping and Growth Bill details how the business was bootstrapped, the role of family, and the transition from brokering loans to starting a fund.
Family Dynamics in Business Exploring the benefits and challenges of working with family, maintaining open communication, and separating family from business.
Maintaining Trust and Communication Importance of daily and weekly huddles, honest dialogue, and preventing resentment in partnerships.
Handling Personal and Business Challenges Navigating personal life events, ego, and maintaining clear communication as the business evolves.
Transparency with Staff and Investors Balancing openness with staff and investors during tough times, and the importance of timely communication.
The $6.8 Million Loss Crisis Bill recounts bringing in a third partner, discovering accounting discrepancies, and the resulting major financial loss and litigation.
Leadership During Crisis How to lead a team and maintain culture during chaos, and the personal toll of business crises.
he Value of Mastermind Groups How mastermind groups provided support, advice, and a sounding board during difficult times.
Radical Transparency with Investors Describing the process of communicating the crisis to investors, holding town halls, and maintaining trust.
Lessons from Chaos and Growth How moments of chaos build strength, structure, and authenticity in leadership and business.
The Importance of Asking for Help Encouragement to utilize support networks and not hide problems out of embarrassment.
Advice on Co-Founder Relationships Bill’s perspective on partnerships, the importance of planning for exits, and treating partnerships like potential divorces.
Structuring Partnerships for the Future Advice on setting up agreements and processes to handle life changes and business evolution.
Final Advice for Future Founders Bill’s key takeaways: don’t get discouraged, expect ups and downs, and be open and honest with all stakeholders.
he Meaning of "Never in Reverse." Bill explains his interpretation: facing consequences, making tough calls, and learning from failure.
Closing Remarks Host wraps up with final thoughts on partnership resilience, learning from failure, and thanks to Bill.
Notable Guests
Bill Fairman
Fund Manager, Private Lender
Bill Fairman
Fund Manager, Private Lender
A best-selling author, national speaker, and serial entrepreneur with 30+ years of experience in mortgage banking.
Over the years, Bill has worked closely with hundreds of high-net-worth individuals, helping them strategically grow wealth as a Fund Manager for more than 13 years.
He’s also a trusted voice in the industry, serving on the Government Relations Committee of the American Association of Private Lenders.
Nick Kiridzic
Founder and CEO
Nick Kiridzic
Founder and CEO
I'm the founder of StaffHero, where we help growing businesses scale without the chaos connecting them with skilled remote assistants and automation systems that save time and cut costs.Before this, I spent over ten years in healthcare and business development, constantly spotting the same problem: amazing teams burning out under the weight of busywork. That’s what pushed me to build StaffHero.
Now, I focus on helping business owners get their time back and build systems that let them grow with freedom and focus.
Paul Glover
The No B.S. Executive Coach
Paul Glover
The No B.S. Executive Coach
Paul Glover is No B.S. Executive Coach, whose mission is to Challenge the Best to Become Better.
He is also:
• An Ex- White-Collar Felon.
• A “Recovering” Federal Trial Lawyer.
• A Subject Mater Expert on failing and recovery.
• Who is a TEDx speaker, Vintage Speaker, Forbes contributor, and an author whose book, WorkQuake™, is endorsed by Marshall Goldsmith, a Top 10 Business Thinker.
• An Executive Coach With 30 years of experience who advises and coaches executives in organizations with up to $1 billion in annual revenue.
• A Starbucks addict, and
• A Chicago Bears fanatic.
Adi Klevit
Founder | CEO
Adi Klevit
Founder | CEO
Adi Klevit is the Founder of Business Success Consulting Group and the host of the Systems Simplified podcast. With nearly three decades of experience as an industrial engineer and process consultant, she has helped hundreds of growth-focused companies systematize their operations to scale successfully.
Known as “The Process Guru,” Adi specializes in designing and implementing turnkey systems that reduce dependence on the owner, empower teams, and increase profitability. Her clients range from fast-growing trades businesses to multi-location professional service firms, and she is a trusted advisor to CEOs across the U.S.
Joe Dillon
Divorce Mediator & Founder
Joe Dillon
Divorce Mediator & Founder
Joe is a pioneer in divorce mediation who has been helping couples navigate the end of their marriages with dignity and financial wisdom for over 17 years. As co-founder of Equitable Mediation Services, Joe combines his MBA in Finance with specialized training from Harvard, MIT, and Northwestern University to guide couples toward agreements that protect both their emotional wellbeing and financial futures.
Joe pioneered virtual divorce mediation in 2011, nearly a decade before others adopted online practices during the pandemic. His results speak for themselves: Equitable Mediation Services maintains a 98% case resolution rate, significantly higher than the industry average of 70%.
